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South Washington County Schools

Retirement/Tax Shelter Accounts

Teacher Retirement Association (TRA)       

TRA is a retirement plan for teachers in Minnesota. Membership is mandatory for certified teachers in all work assignments. Effective 7/1/12, TRA deductions are at 7.50% of the employee’s gross pay and the District matches at 7.50%. The contribution amounts are forwarded to TRA each payday and invested for you. If you have questions regarding your TRA balance, withdrawing funds, or changing beneficiaries, please contact TRA directly at (651) 296-2409.

Public Employees Retirement Association (PERA)           

PERA is a retirement plan for public employees in Minnesota. Membership is mandatory for all non-temporary employees. Substitutes, and other temporary employees, who earn $425 in a one month period are automatically enrolled in PERA. PERA deductions are at 6.50% of the employee’s gross pay and the District matches at 7.50%. The contribution amounts are forwarded to PERA each payday and invested for you. If you have questions regarding your PERA balance, withdrawing funds, or changing beneficiaries, please contact PERA directly at (651) 296-7460.

Tax Shelter Accounts (TSA)

Participation in a TSA is optional. A tax sheltered account is a tax-deferred retirement investment plan such as the 403b and 457 plans offered through the District. The terms “403b” and “457” refer to sections of the IRS Code which define the rules by which “pre-tax” investments may be made through payroll deduction.  These voluntary saving plans supplement the mandatory defined-benefit pension plan (such as TRA or PERA) to which you already belong. Together they will help you be prepared for a more comfortable and secure life after you retire. 

Eligible employees, as outlined in Collective Bargaining Agreements or individual letters of assignment, are encouraged to participate in a TSA.  To begin, review the List of Vendor Choices, below, and work with an agent (or on your own) to open an account.  Once your account is set-up complete the TSA Salary Reduction form and submit to your Benefit Specialist.

General Retirement Information